Xavier Vives

Xavier Vives is a Spanish economist regarded as one of the main figures in the field of industrial organization and, more broadly, microeconomics.[2] He is currently Chaired Professor of Regulation, Competition and Public Policies, and academic director of the Public-Private Sector Research Center at IESE Business School in Barcelona.

Xavier Vives
Born(1955-01-23)January 23, 1955
Barcelona, Spain
InstitutionIESE Business School (2006 –)[1]
FieldIndustrial Organization
Game Theory
Microeconomics
Banking and Finance
Alma materUC Berkeley Ph.D. (1983)
Doctoral
advisor
Gérard Debreu
Information at IDEAS / RePEc
Websiteblog.iese.edu/xvives

Biography

A native of Barcelona, after obtaining his bachelor's degree from the Autonomous University of Barcelona (UAB), received a doctorate from UC Berkeley under the supervision of Gérard Debreu, and moved to the University of Pennsylvania as an Assistant Professor. In 1987 moved back to Spain and headed for ten years the Institute for Economic Analysis (CSIC) in the decade of the 1990s. In 2001 he moved to the business school INSEAD in Paris and in 2005 went back to Barcelona with a research professorship at ICREA-UPF (Pompeu Fabra University). He also taught at UAB and held visiting positions at Harvard University, the University of California at Berkeley and New York University. He served as Director of the Industrial Organization Program of the Center for Economic Policy Research (CEPR) in 1991–1997. He was editor of the International Journal of Industrial Organization in 1993–1997, editor-in-chief of the European Economic Review (1998–2002) and of the Journal of the European Economic Association (2003–2008).[3] Currently he is editor of the Journal of Economic Theory and co-editor of the Journal of Economics & Management Strategy. Member of the Identification Committee of the European Research Council in 2014–2019. He has participated extensively in the policy debate in Europe with contributions to a substantial number of reports published by CEPR and CESifo networks as well as columns in Project Syndicate, The Financial Times, The Wall Street Journal and the Spanish press (La Vanguardia, Expansión, El País). From 2011 to 2014 he was Special Advisor to the Vice President of the European Commission and Commissioner for Competition, J. Almunia.

Research contributions

Vives' research concentrates on microeconomics and ranges from industrial organization, information economics, and game theory to banking and finance.[4] His contributions started with seminal research in oligopoly theory and the study of price and quantity competition providing canonical models and results on price formation and competitiveness.[5][6][7] The research extended to the interaction between private information and strategic behavior with the early study of information sharing among firms.[8][9] This research has served as a basis for extensive theoretical and applied developments in industrial organization and international trade among other fields, as well as having implications for competition policy. A path breaking contribution was the pioneer application of lattice-theoretic methods to analyze games of strategic complementarities (or supermodular games), and in general complementarities, in economics.[10][11][12][13] His contribution opened the gates to numerous applications in a wide range of fields including macroeconomics and finance. Further work has studied incomplete information economies and the mechanisms of information aggregation and transmission in markets and learning by traders formalizing the ideas of Hayek. This work provides a bridge between the rational expectations and the herding literatures.[14][15][16][17][18][19] and has been applied to study the dynamics of asset prices.[20][21] Vives has contributed to the study of competition and regulation in banking and of financial stability with research that has policy implications for the financial crisis and European financial integration.[22][23][24][25][26] More recently, he has examined the implications for competition, innovation and the macroeconomy of the rise of common ownership.

Books

Awards and honors

Vives is a Fellow of the Econometric Society since 1992,</ref>"Fellows of the Econometric Society as of September 2012". Archived from the original on December 10, 2008. Retrieved November 25, 2012.</ref> of the European Academy of Sciences and Arts since 2002,</ref>"European Academy of Sciences and Arts Academia Scientiarum et Artium Europaea". Retrieved November 25, 2012.</ref> of the European Economic Association since 2004,[27] of the Spanish Economic Association since 2010,[28] of the Institute of Catalan Studies since 2011[29] and of the Academia Europaea since 2012. He has received several research prizes in Spain, among them the Premio Nacional de Investigación Pascual Madoz 2020, the Premio Rey Jaime I de Economía in 2013.[30] In 2009 and 2018 he was awarded a European Research Council Advanced Grant,[31] and in 2015 a Wim Duisenberg Fellowship from the European Central Bank. President of EARIE (European Association for Research in Industrial Economics) for the period 2016–2018. Distinguished Fellow of the Luohan Academy since 2020.

References

  1. "Xavier Vives - Faculty Search". Retrieved November 25, 2012.
  2. "Xavier Vives is one of the outstanding scholars of his generation in oligopoly and industrial organization theory"; "Xavier Vives has been one of the leading contributors to the modern theory of oligopoly", Quotations, respectively, by James W. Friedman and Eric Maskin from back cover of the book "Oligopoly pricing"
  3. "Report for the editors of JEEA for 2008" (PDF). Retrieved November 25, 2012.
  4. IESE Business School. “Xavier Vives | Economics & Financial Management.” IESE, www.iese.edu/faculty-research/faculty/xavier-vives/.
  5. “Price and Quantity Competition in a Differentiated Duopoly” (with N. Singh), The RAND Journal of Economics, 15, 4, 1984, 546-554.
  6. “On the Efficiency of Bertrand and Cournot Equilibria with Product Differentiation”, Journal of Economic Theory, 36, 1, June 1985, 166-175.
  7. “On the Strategic Choice of Spatial Price Policy” (with J.F. Thisse), American Economic Review, 78, 1, March 1988, 122-137.
  8. “Duopoly Information Equilibrium: Cournot and Bertrand”, Journal of Economic Theory, 34, 1, October 1984, 71-94.
  9. Information Sharing Among Firms”, in The New Palgrave: A Dictionary of Economics, New York: Palgrave Macmillan, 2008
  10. “Nash Equilibrium with Strategic Complementarities”, Journal of Mathematical Economics, 19, 3, 1990, 305-321.
  11. Complementarities and Games: New Developments, Journal of Economic Literature, 43, 2, 2005, 437-479.
  12. Supermodularity and Supermodular Games”, en Game Theory, S. Durlauf y R. Blume (eds.), New York: Palgrave Macmillan, 2010
  13. Monotone Equilibria in Bayesian Games of Strategic Complementarities (with T. Van Zandt), Journal of Economic Theory, 134, 2007, 339-360.
  14. “Aggregation of Information in Large Cournot Markets”, Econometrica, 56, 4, July 1988, 851-876.
  15. "How Fast Do Rational Agents Learn?", Rev. Econ. Studies 60, 1993, 329-347.
  16. Strategic Supply Function Competition with Private Information, Econometrica, 2011, 79, 6, 1919-1966.
  17. On the Possibility of Informationally Efficient Markets“, Journal of the European Economic Association, 2014, 12, 5, 1200-1239
  18. “Endogenous Public Information and Welfare in Market Games”, Review of Economic Studies, 2017, 84, 2, 935-963
  19. “The Beauty Contest and Short-Term Trading” (with G. Cespa), Journal of Finance, 2015, 70, 5, 2099-2154.
  20. Dynamic Trading and Asset Prices: Keynes vs. Hayek (with G. Cespa), Review of Economic Studies, 2012, 79, 2, 539-580.
  21. “The Beauty Contest and Short-Term Trading” (with G. Cespa), Journal of Finance, 2015, 70, 5, 2099-2154.
  22. “Bank Runs as an Equilibrium Phenomenon” (with A. Postlewaite), Journal of Political Economy, 95, 3, June 1987, 485-491.
  23. Competition for Deposits, Fragility, and Insurance“, (with C. Matutes), Journal of Financial Intermediation, 5, 1996, 184-216.
  24. Imperfect Competition, Risk Taking, and Regulation in Banking” (with C. Matutes), European Economic Review, 44, 2000, 1-34.
  25. Coordination Failures and the Lender of Last Resort: Was Bagehot Right After All? (with J-Ch. Rochet), Journal of the European Economic Association, 2, 6, December 2004, 1116-1147.
  26. “Strategic Complementarity, Fragility, and Regulation“, The Review of Financial Studies, 2014, 27, 12, 3547-3592
  27. "Fellows of the European Economics Association, FEEA". Retrieved November 25, 2012.
  28. "Fellows AEE". Archived from the original on October 16, 2012. Retrieved November 25, 2012.
  29. "Membres numeraris i emèrits". Retrieved November 25, 2012.
  30. "Premio Rey Jaime I de Economía". Archived from the original on June 13, 2013.
  31. "ERC Advanced Grant 2008" (PDF). Retrieved November 25, 2012.
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